Aerospace Fasteners Market Size to Grow from $4.04 Billion in 2024 to $6.16 Billion by 2031, with a CAGR of 6.0% | The Insight Partners

The global aerospace fasteners market growth is driven by increasing demand for commercial and military aircraft, advancements in lightweight materials like titanium, and the adoption of smart fastening systems.

/EIN News/ -- US & Canada, May 21, 2025 (GLOBE NEWSWIRE) -- According to a new comprehensive report from The Insight Partners, the global aerospace fasteners market is observing healthy growth owing to the rising number of orders and production of narrow-body aircraft.

The report runs an in-depth analysis of market trends, key players, and future opportunities. The benefits associated with the utilization of titanium fasteners in the aerospace industry; increasing number of MRO activities in emerging economies, growing number of general aviation aircraft and helicopter deliveries; rising number of orders and production of narrow body aircraft are some of the major drivers of market growth.

North America leads the market due to its robust aerospace industry, while Asia-Pacific is the fastest-growing region, fueled by expanding aviation sectors in countries like China and India. Key players include Howmet Aerospace, Arconic Inc., LISI Aerospace, TriMas Corporation, Stanley Black & Decker, Bossard Group, and SFS Group.

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Overview of Report Findings

      Market Growth1.   : The aerospace fasteners market is expected to reach US$ 4,044.12 million in 2024 and is expected to reach US$ 6161.15 million by 2031; it is estimated to record a CAGR of 6.0% from 2025 to 2031. The increasing number of orders of narrow-body and wide-body aircraft in the commercial aircraft segment fuels the growth of the aerospace fasteners markets in North America, Europe, and Asia Pacific. In 2023, the overall general aviation shipments have witnessed growth, when compared to 2022. The shipments and preliminary aircraft deliveries accounted for US$ 28.3 billion, recording an increase of ~3.3%. As per the General Aviation Manufacturers Association data, in 2023, airplane shipments witnessed a rise compared to 2022. Piston airplane deliveries increased by ~11.8%, with 1,682 units; business jet deliveries increased to 730 units from 712, and turboprop airplane deliveries surged by ~9.6%, with 638 units. The value of airplane deliveries was US$ 23.4 billion in 2023, an increase of ~2.2% from 2022.

      2.   Benefits Associated with the Utilization of Titanium Fasteners in the Aerospace Industry: Titanium fasteners are the most common alloy used in the aerospace industry. These fasteners are obtained from titanium alloys, often with aluminum and vanadium as primary alloying elements, to enhance strength and other desirable properties. Their high strength-to-density ratio makes them stronger and lighter than steel. Also, its corrosion resistance and high-temperature performance make it the perfect choice for the aerospace industry. Due to their high tolerance to extreme temperatures and pressures, they are used in landing gear, jet engines, fan blades, engine blades, shafts, fuselages, wings, and propellers. Titanium fasteners, in pin or nut form, are used to join components in aircraft assemblies. Since they are 40% lighter than any other component, the demand for lightweight parts has recently driven the adoption of titanium fasteners globally.

      3.   Increasing Number of MRO Activities in Emerging Economies: The rapidly growing aviation industry is fueling the demand for airline MRO services. Developing economies, especially countries in Asia Pacific, are concentrating on expanding MRO services to commercial and military aircraft companies. A few of the major aircraft MRO businesses in the Asia Pacific are MTU Maintenance; Guangzhou Aircraft Maintenance Engineering Co., Ltd. (GAMECO), China; and ExecuJet Haite Aviation Services China Co., Ltd. Substantial spending on aviation infrastructure, economic evolution, and growth in passenger count are the factors boosting the adoption of aircraft maintenance services. The rising number of middle-class travelers—especially in countries across the Asia Pacific, such as Singapore, China, and India—is contributing to air travel evolution and increasing the need for aircraft maintenance services in the region. Malaysia, Singapore, and Thailand generate a large amount of revenue from aviation MRO services owing to well-established MRO hubs. Major market players such as Airbus, GE Aviation, and Rolls-Royce have a significant presence in Singapore. According to the Wisconsin Economic Development Corporation (WEDC), Singapore is home to 120 aerospace companies, which accounts for one-quarter of the MRO service sector in Asia Pacific. Fasteners are essential components that ensure the structural safety and integrity of aircraft during maintenance activities. Thus, the soaring emphasis on aircraft maintenance, repair, and overhaul (MRO) services across emerging nations drives the growth of the aerospace fasteners market.

      4.   Rising Number of Orders and Production of Narrow Body Aircraft: The aerospace industry has grown rapidly over the years, producing and delivering many aircraft. This growth reflects large orders for commercial aircraft manufacturers worldwide. Commercial aviation is anticipated to surge in the coming years with an increase in air travel passengers and aircraft volumes. The increase in orders of narrow-body passenger and commercial aircraft drives the demand for aircraft brackets. With the rising number of air travel passengers, airlines are expanding to remote locations by launching routes to smaller city airports. Due to the mounting number of aircraft and airports, the demand for fasteners is increasing. In 2023, Boeing and Greater Bay Airlines (GBA) received an order for 15 units of 737-9 airplanes. The agreement incorporates a pledge for five 787 Dreamliners to support GBA's long-term strategy to introduce international long-haul service.

      5.   Geographical Insights: In 2024, North America led the market with a substantial revenue share, followed by Europe and Asia Pacific, respectively. Asia Pacific is expected to register the highest CAGR during the forecast period.

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Market Segmentation

• Based on material type, the aerospace fasteners market is segmented into superalloys, aluminum, stainless steel, titanium, and others. The titanium segment held the largest market share in 2024.
• By application, the market is segmented into airframe, engine, interiors, and others. The airframe segment held a larger share of the market in 2024.
• Based on aircraft type, the market is divided into fixed wing and rotary wing. The fixed wing segment held a larger share of the market in 2024.
• Based on product type, the market is divided into screws, rivets, nut/bolts, and others. The nut/bolts segment held a larger share of the market in 2024.

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Competitive Strategy and Development

• Key Players: A few of the major companies operating in the aerospace fasteners market are Precision Castparts Corp., LISI Aerospace SAS, TriMas Aerospace, National Aerospace Fasteners Corp., Howmet Aerospace Inc., STANLEY Engineered Fastening, Saturn Fasteners, Inc., B&B Specialties, Inc., Raychin Limited, and MS Aerospace, among others.
• Trending Topics: Aerospace-grade fastener solutions, Aircraft fastening systems market, Aviation hardware industry forecast, Aerospace supply chain resilience, High-performance aerospace materials, MIL-spec fastener compliance, Aerospace c-class parts, Aircraft bolts, Composite Fasteners, etc.

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Global Headlines on Aerospace Fasteners Market 

• TriMas signed an agreement to acquire the operating net assets of Weldmac Manufacturing Company ("Weldmac")
• LISI Aerospace SAS acquired the American Company B&E Manufacturing
• TriMas, acquired TFI Aerospace Corporation
  
  

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Conclusion

The global aerospace fasteners market is segmented into five major regions: North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). North America accounts for the largest market share of 35.1% in 2024 and is projected to register a CAGR of 5.5% during the forecast period. The presence of several manufacturers and suppliers of stainless steel and superalloy fasteners in North America and Europe drives the market. For example, TriMas, Precision Castparts Corp., Howmet Aerospace Inc., LISI Aerospace SAS, Saturn Fasteners, Inc., National Aerospace Fasteners Corp., and Raychin Limited are among the key players based in North America, Europe, and Asia Pacific.

In June 2024, Airbus' A330-900 flight-test aircraft—MSN1795/F-WTTN—flew to Toluca in Mexico and then to La Paz in Bolivia. The test was a part of Airbus's high-altitude test campaign. Airbus is focusing on increasing production of the A350 and A330neo and working on the potential launch of an A330neo-based freighter. Airbus supplied 735 commercial aircraft in 2023, which is a ~11% increase from 2022. Airbus accounted for overall 2,319 orders of commercial aircraft, comprising 1,835 A320 Family and 300 A350 Family aircraft. In 2023, Boeing delivered a total of 528 aircraft, including 396 Boeing 737 jets and 73 Dreamliners. Additionally, in May 2024, IndiGo collaborated with Embraer, ATR, and Airbus to order ~100 smaller planes as it targets to widen its regional network. Also, the demand for stainless steel and superalloy fasteners in the aerospace sector is growing owing to the rising number of new aircraft fleet production and increasing MRO services.

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